5 Trends in Healthtech Domain to Watch for in 2023
Technologies have been driving the healthcare domain with a vast range of innovations. Healthcare was the first industry to experience changes due to the COVID-19 pandemic. And while it was a hard time for clinics and healthcare organizations to adapt to modern realities, new technologies have greatly changed the way doctors find, prevent, and cure diseases.
Although the pandemic is over, the tech market continues to develop new tools and technologies that can power the healthcare domain. As a result, it’s important for everyone involved in the industry to remain mindful of the trends that are predicted to drive the healthcare domain in 2023.
Let’s explore the tech innovations the healthcare industry may see in 2023 years that may have the potential to transform your healthcare business.
1. Higher Adoption of Blockchain in Healthcare
As an open-source and highly secure technology, blockchain is now applied to the medical industry. It is used to organize more stable and secure data storage, reduce costs, reduce risks of digital fraud, and speed up the billing process in the domain.
Even though blockchain is already a part of many clinics and healthcare organizations, it still needs some improvements to be fully adopted on a global scale. For example, a healthcare app development company in the US now builds data marketplaces based on blockchain that contains sensitive patient data (by permission) and is used by innovative labs to get a more accurate picture of different conditions for future care improvement.
2. Automation Will Improve Clinician Wellness
With the increased demand for healthcare services due to Covid and growing awareness of overall health among patients, most clinics and healthcare organizations experience great staffing shortages. Experts found out that the automation of administrative and time-consuming tasks such as documentation and billing had doubled since 2020.
Automation tools are now widely used in healthcare organizations and private clinics, and their popularity will only grow now since more and more services are becoming available to reduce the operational load of healthcare staff.
3. Growing Popularity of Wearable Devices
Wearable technology has grown in usage as more and more patients are looking to monitor their own health and vital signs remotely. The market of medical wearable devices is predicted to grow between 2021 and 2026, reaching 83.9 billion U.S. dollars. Researchers discovered that the largest and fastest-growing domain in the wearable healthcare market will be smartwatches and fitness trackers.
Not only do patients enjoy the idea of being monitored remotely for early diagnosis and improved health, but doctors also find these devices extremely useful in proactive care. Alongside the development of wearable devices, the tech market also builds a vast range of solutions for that domain, organizing seamless data exchange.
4. Widely Adopted Personalized Healthcare
Personalized healthcare for patients will definitely be a leading trend in 2023. This involves a range of services, but precision medicine will be the key one. It means the process where medications and other treatments are specifically tailored to a specific group of patients instead of administered via a one-size-fits-all approach. This form of precise medicine considers a patient’s genetic information, so it is able to help healthcare providers accurately forecast how effective specific medications will be or whether a patient would suffer from any side effects.
5. Increased Use of Artificial Intelligence
According to Statista, the global use of A.I. in healthcare would be worth almost 188 billion U.S. dollars by 2030, growing at a compound rate of 37 percent during the forest period. The use of artificial intelligence and especially machine learning (ML) tools – in healthcare is suggested to top a whopping $2 million.
There are many use cases of A.I. and ML, where the most popular is drug discovery. These technologies help doctors to predict better outcomes of clinical trials, specific treatments, potential side effects of new medications, and analysis of medical imagery that requires using computer vision algorithms to identify early signs of disease in scans or x-rays.
Final Thoughts
The tech market is growing rapidly, offering more and more innovations for various industries. However, healthcare, as the leading industry during the last few years, experienced the biggest changes. With the adoption of telemedicine and remote monitoring, clinics and healthcare companies will see more and more trends and technologies arriving on the market and affecting the domain. Here we collected the top 5 healthcare trends the medical domain should watch for in 2023.
